Analysis of Entrepreneurial Ventures and Economic Impact

This report provides a comprehensive analysis of entrepreneurship and small business management. It begins by defining different types of entrepreneurial ventures, including small businesses, scalable start-ups, large company ventures, and social entrepreneurship, and how they relate to a typology. The report evaluates the similarities and differences between these venture types, exploring their objectives and operational characteristics. It then investigates the impact of micro and small businesses on the economy, considering factors like infrastructure improvement, employment generation, and cash flow. The report also examines the importance of small businesses and start-ups for social economic growth, including their role in generating job opportunities and motivating other individuals. Furthermore, the report critically examines the scope, growth, and development of entrepreneurial ventures, discussing how small organizations affect the local, regional, and national economies. The analysis includes an examination of how different business ventures are affected during economic recessions and the significance of small businesses during such times. The report concludes by summarizing the key findings and providing references to support the analysis.

Entrepreneurship and
small business
management
Make it Work

P1 Different types of entrepreneurial venture and how they related to the typology................................................................................................................................................................ 3
P2 Evaluate similarities as well as difference of between entrepreneurial venture.................................................................................................................................................................... 4
M1 Investigate the range of entrepreneurial ventures for the understanding of public or corporate sector.................................................................................................................... 5
D1 Critically examine the scope, growth and development of entrepreneurial venture............................................................................................................................................................ 5
P3 Impact of micro or small business on economy.................................................................................................................................................................................................................................... 5
Above mention chart represent that, how different business ventures affected due to recessions duration. It clearly shows that, large organization affect the most
and it will affect their productivity as well as profit margin. ......................................................................................................................................................................................................... 6
P4 Importance of small business & start-up for the social economy growth.................................................................................................................................................................................. 6
M2 Difference between small, medium and large business organization......................................................................................................................................................................................... 7
D2 Critically evaluate that how small organization affect the different level of economy such as local, regional or national....................................................................................7

ACTIVITY 1
P1 Different types of entrepreneurial venture and how they
related to the typology
There are different types of entrepreneurship which have
main purpose to achieve high market growth along with profit
margin and it is discussed below:
Small business entrepreneurship: This type of
entrepreneurship means, individual perform their task with
limited resources and it is privately owned company such as
sole proprietor, partnership etc. Here all the decision and
strategy developed by the single person and this type of venture
offer product and services to their clients.
Scalable start-up entrepreneurship: This type of
venture based on innovative or creative ideas and they succeed
in their business through applying business models for future
growth. This type of organization has main objective is to
become large corporation and capture huge market share.
Large company entrepreneurship: Under this venture,
organization introduce new product in the large market in order
to capture huge customer and they have enough resources to
implement their plans. Large business venture develop product
as per the customer's requirement in order to develop their trust
and retain for the longer period.
Social entrepreneurship: This venture develops to satisfy social
need and desires. Here, entrepreneur introduce such products & services
which generate willing power in the society to buy. It has main
objectives is to develop economy of scale and provide overall growth.
Above mention entrepreneurship have different objectives, so
entrepreneur need to analyses their requirement and then decide which
one they wanted to start.
Types of typology entrepreneurship:
Typology entrepreneurship is the type of cluster analysis which
based on the entrepreneur and their motivation. behavior, attitude etc. It
is totally linked with the above entrepreneurial business and it is
discussed below:
Male: This type of business operated by only man and they think
that, they are more powerful and capable to handle the situation or able
to run business in more effective way rather than others. All the
authoritative position and decision making power done by the male
employees.
Female: In this type of typology, decision making authority have
in female’s hand and other strategy formulation power too. Females have
more power in comparison to male employees.
Managed growth: This type of typology, decision making
power have in hands of authoritative person or it can be male or female.
Entrepreneur take suggestion from workers without any discrimination
and then implement is any beneficial for the business.
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P2 Evaluate similarities as well as difference of between entrepreneurial venture
Difference between different types of business venture:
Basis Small business
entrepreneurship
Scalable start-up
entrepreneurship
Large company
entrepreneurship
Social
entrepreneurship
Definition This type of
business operates
by owner's risk
with limited
resources due to
unavailability of
money.
In this type of
entrepreneurship,
individual develop
strategic
objectives which
is required to
formulate plans to
achieve goals.
Large size
business venture
includes huge
capital investment
as well as
resources to
capture market and
maximize profit.
In this type of
entrepreneurship
venture, individual
develop innovative
products to satisfy
society needs.
Objectives Objective is to
achieve
sustainability in
the initial years.
Because most of
the organization
not able to survive
due to lack of
resources.
Main objective is
to establish new
venture in the new
market to capture
huge customers
base.
Large business
venture establishes
the organization in
order to maximize
their profit margin
and achieve high
growth.
Objective of social
entrepreneurship is
to develop
sustainability and
economic
development.
Similarities of business ventures:
 All the entrepreneurship venture required innovative or creative ideas
to implement their strategy to achieve business goals.
P3 Impact of micro or small business on economy
Small & micro size business helps in developing
economy through eliminating negative impact such as
government policies and Brexit. In the UK, GDP of the country
continuously decrease due to Brexit case where small

 At the end of every business venture, entrepreneur required profit to
survive in the market.
 Main objective is to develop sustainability to capture huge market for
the future growth.
M1 Investigate the range of entrepreneurial ventures for the
understanding of public or corporate sector
In the business environment, there are different types of venture
which were related to the corporate as well as public sector. All are work to
achieve their goals & objectives which includes profit margin, market growth
and high customer base. Large size, scalable or small business ventures are
the part of public sector and social entrepreneurship is the part of public
sector.
D1 Critically examine the scope, growth and development of
entrepreneurial venture
It has been critically evaluated that, entrepreneur can minimize the
risk through intense research which provide the opportunity as well as future
growth in the market. Scope of entrepreneurship venture will be discussed
above which include the vast scope in order to achieve their goals &
objectives. It will further provide market growth and economic development.
organization not able to sustain and market share of large
business was reduced which affect the productivity as well as
profitability. After this situation, small or micro business venture
start growing and help the country to overcome from these
situations through limited resources.
Inflation or deflation affect the economy as well as large
organization but small or micro business not that much affected
because they have low market shares. There are some external
factors which affect the organization which is mentioned below:
 Infrastructure improvement: Micro or small size
organization help the economy through contributing
national income in a good amount. With the help of their
contribution, government develop the infrastructure such
as schools, hospitals, roads etc.
 Employment generation: New business venture will
create the employment opportunities which reduce the
unemployment from country. On the other hand, when
any large organization face financial problems so they
start terminating their employees which generate
unemployment.
 Improve cash flow: When country resolve the issue
regarding unemployment than it will generate cash flow
in the country which improve economic condition.

Above mention chart represent that, how different business ventures
affected due to recessions duration. It clearly shows that, large
organization affect the most and it will affect their productivity as
well as profit margin.
P4 Importance of small business & start-up for the social economy
growth
In the business environment, small as well as start-up business
is very essential for the country because it provide development and
growth of economy. Organization has to follow all the legal restriction
because it affects growth rate and create various problems. Various
challenges faced by the country such as unemployment, decrease
awareness regarding development. Due to economic changes, large
organization affected very well but small or start-up business provide
the job opportunities and contribute in the national income. Another
importance is that; they perform well with limited resources. Some of
the importance of small or start-up business are discussed below:
 Generate job opportunity: Small business ventures will
generate lots of job opportunities because they are in growing
stage where they move forward for the growth. Small or start-
up required innovative ideas which helps in maximizing their
market reach and provide growth.
 Motivate other individuals: When start-up perform well than
it will encourage other people to entered in this sector and
develop something innovative. It will motive other business
man too, which help the economy to growth through their
contribution

M2 Difference between small, medium and large business
organization
Types of organization give their contribution for the economic
development through generating job opportunity, motivate other business
man and contribute in the national income which help the country to
maintain sustainable growth. These organizations generate revenger for
the country which further used to face economic problems. When
economy affect due to recession or inflation, then large organization
affect the most.
D2 Critically evaluate that how small organization affect the
different level of economy such as local, regional or national
It is critically evaluated that, small business venture required
limited resources and it will make them stable for the longer time and not
affected due to other economic factors. It provides solutions through
increasing employment and contribute in the country in terms of revenue.
Basically, it will affect the economy through local to national level.
REFERENCES
Books & Journals
Başçı, E. S. and Alkan, R. M., 2015. Entrepreneurship education at
universities: suggestion for a model using financial
support. Procedia-Social and Behavioral Sciences. 195.
pp.856-861.
Burns, P., 2011. Entrepreneurship and Small Business. 3rd Ed.
Basingstoke: Palgrave MacMillan.
Cassia, L. and et.al, 2014. Entrepreneurship research centers around
the world: Research orientation, knowledge transfer and
performance. The Journal of Technology Transfer. 39(3).
pp.376-392.
Edoho, F. M., 2015. Entrepreneurship and socioeconomic
development: Catalyzing African transformation in the 21st
century. African Journal of Economic and Management
Studies. 6(2). pp.127-147.
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